Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 65.29 Rubles for the US Dollar. The pair continues to move within the descending channel. Moving averages indicate an uptrend. In the current trading week of May 6 — 10, 2019, we expect a further decline and a test of the support area near the level of 64.15. Where can we expect a rebound and continued growth of the dollar above the level of 68.15.
USD/RUB Forecast and Analysis May 6 — 10, 2019
The growth of the Dollar/Ruble pair will be supported by the formation of an inverted «Head and Shoulders» model on the relative strength index (RSI). The second signal will be a rebound from the bottom of the channel. Cancellation of the option to continue the growth of the pair Ruble/Dollar will be a decline and a breakdown of the 61.90 area. This will indicate a breakdown of the support area and the continuation of the depreciation of the US Dollar against the Russian Ruble. Expect confirmation of growth in the pair stands with the breakdown of the resistance area and closing of USD/RUB quotes above the level of 65.95.
USD/RUB Forecast and Analysis May 6 — 10, 2019 implies an attempt to test the support area near the level of 64.15. Where should we expect an attempt to increase the dollar in the area above the level of 68.15. The formation of an inverted «Head and Shoulders» model on the relative strength index (RSI) will favor growth of the pair. Cancellation of the growth rate of the dollar in the current trading week will be a decline and a sample of 61.90. What will indicate the continuation of the fall of the pair.
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